Home Sales
Management approval is required for all sales.
Approval of management includes a background check and approval by the board of directors. The prospective buyer must complete and submit the “Parkwood Estates R.O.C. Approval Application” before titles can be exchanged.
Homes in Parkwood are sold by individual owners. Parkwood Estates R.O.C. does not sell homes. The “Share” associated with home ownership must be transferred by Parkwood Estates R.O.C. and cannot be done by an individual or their representative.
When a home is purchased, the total sales price includes the current amount of $31,000 for the “SHARE” plus the price of the home which may be negotiable.
Definition of a “SHARE”
Each member of the cooperative owns a “SHARE” in our non-profit corporation, which includes all assets such as the land, clubhouse, pool, common areas and voting rights. Membership is allocated on the basis of one (1) membership or “SHARE” per lot in the park. An official “SHARE” certificate is issued. When the home is eventually sold, the owner will fully recapture their original $31,000 (from the total sales price plus the sales price of the home).
In Summary:
Total Sales Price = The current price of a “SHARE”($31,000), plus Negotiable price of the home. The “Share” price is set by the Board of Directors.
No pets and no motorcycles are allowed.
Home Rentals
Management approval is required for all rentals.
Approval of management includes a background check and approval by the board of directors.
All rentals are handled by individual owners who are responsible to ensure that prospective renters complete and submit the “Parkwood Estates R.O.C. Approval Application” before rentals may be occupied.
Homes may be rented or leased for a minimum of 3 months and a maximum of 6 months with the approval of Management. Tenants must meet the park’s minimum age requirements, whereby at least one tenant must be at least fifty-five (55) years of age and the other must be at least fifty (50) years of age.
A maximum of 2 tenants may occupy the home during the rental period.
No pets and no motorcycles are allowed.
Sales and Rentals are quite dynamic.
Check back frequently to avoid missing an opportunity.